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Tax
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November 19, 2024
DA Says Trump Sentencing Could Be Delayed Until 2029
Manhattan prosecutors on Tuesday suggested that President-elect Donald Trump's criminal sentencing could be delayed until after he serves out his next term, but urged a judge not to throw out his conviction over an alleged hush money scheme.
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November 19, 2024
Treasury Finalizes Partnership Tax Credit 'Direct Pay' Regs
The U.S. Treasury Department finalized regulations Tuesday to make it easier for tax-exempt entities that co-own development projects to qualify for a direct cash payment of clean energy tax credits by electing out of their partnership tax status.
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November 18, 2024
EU Members Face Choice Over Trump Tax Stance, Group Says
Member states of the European Union will have to pick a side if President-elect Donald Trump's incoming administration abandons global tax reform, the Tax Justice Network said Monday.
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November 18, 2024
Mo. Bank Properly Valued At $1.1M, Commission Rules
A Missouri property that is owned and operated by a bank branch was properly valued at $1.1 million, the state's tax commission ruled, saying the bank's appraiser was not persuasive in her argument that the value should be lowered to $725,000.
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November 18, 2024
Nursing Home Owner Pleads Guilty A 2nd Time To Tax Fraud
A nursing home operator pled guilty for the second time in Newark federal court on Monday to a $38.9 million employment tax fraud scheme involving care centers he owned across the country.
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November 18, 2024
Mo. Tax Commission Upholds Storage Facility's $7.4M Value
A Missouri storage facility was properly valued at $7.4 million because the real estate company that owned the facility failed to prove the value should be lowered to $2.7 million, the state tax commission said.
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November 18, 2024
Bracewell Expands Tax Bench With V&E Atty In Dallas
Bracewell LLP announced Monday that it has deepened its tax department with a new partner in Dallas who came aboard from Vinson & Elkins LLP, bringing experience handling matters in energy and various other industries.
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November 18, 2024
11th Circ. Shelves Peanut Truck Co.'s Excise Tax Refund
The Eleventh Circuit has overturned a decision awarding an excise tax refund to a manufacturer for selling wagons that dry and carry peanuts, saying the refund is reserved for vehicles that are specially designed for off-highway transportation — a test the peanut wagons failed.
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November 15, 2024
SEC-Sanctioned Accounting Firm Sued Over Pre-IPO Work
The former public company accounting firm BF Borgers is facing a California state lawsuit by an ex-client that says it was forced to scuttle its plans for an initial public offering after the U.S. Securities and Exchange Commission accused the firm of being a "sham auditing mill."
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November 15, 2024
Poor Counsel Led To Unjust Tax Convictions, Justices Told
A North Carolina actuary asked the U.S. Supreme Court to review a Fourth Circuit decision denying his bid to reverse his 2016 tax fraud convictions, saying the ruling was based on bad decisions made by his then-trial counsel.
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November 15, 2024
Veterans Seek Class Certification In Burn Pit Injuries Suit
A pair of veterans alleging the military misclassified their burn pit injuries as not combat-related have told a D.C. federal judge that they satisfied the criteria for size and common relief sought to proceed as a certified class.
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November 15, 2024
Denver Voters Reject Sales Tax Hike For Affordable Housing
Denver voters narrowly rejected a ballot measure that would have increased the city's sales and use tax by 0.5 percentage points and dedicated the anticipated $100 million in revenue to the city's affordable housing efforts.
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November 15, 2024
Man Gets 6 Years For Tax Evasion With Watches, Casino Chips
A former New Jersey businessman was sentenced to more than six years in prison and ordered to pay roughly $10.3 million in restitution to the Internal Revenue Service after being convicted of evading taxes using ploys involving luxury watches and casino chips.
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November 15, 2024
Hedge Fund Group Urges Trump To Reject 'Punitive' Policies
A leading industry group representing hedge funds and other alternative asset managers is urging President-elect Donald Trump to abandon "punitive" economic policies and instead propose tax and regulatory relief, including business-friendly priorities at the U.S. Securities and Exchange Commission.
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November 15, 2024
Detroit 'Rain Tax' Stormwater Fees Upheld By Appellate Court
Fees that Detroit charges property owners to maintain its stormwater drainage system are not illegal taxes, a Michigan Court of Appeals panel held, finding that although the charges are effectively compulsory, they are not subject to constitutional restrictions on tax increases.
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November 15, 2024
Fla. Health Co. Owner Pleads Guilty In $11M Payroll Tax Case
A Florida healthcare business owner who caused a tax loss to the IRS of nearly $11 million pled guilty in a Miami federal court to failing to pay employment taxes and not filing his income tax returns, the U.S. Department of Justice said Friday.
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November 15, 2024
Taxation With Representation: Cravath, MoFo, Gibson Dunn
In this week's Taxation With Representation, Cardinal Health takes a majority stake in GI Alliance and acquires Advanced Diabetes Supply Group, Just Eat offloads Grubhub to Wonder Group, Rivian Automotive and Volkswagen Group launch a joint venture, and Ovintiv Inc. buys Montney Basin assets from Paramount Resources Ltd.
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November 15, 2024
Judge Advises Axing Bank's Home Stake In $1.7M Tax Dispute
A federal magistrate judge recommended jettisoning any interest of JPMorgan Chase Bank NA in a California home the government wants to sell to recover $1.7 million in taxes, saying the bank, as a loan holder, hasn't responded to the government's lawsuit seeking the sale.
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November 15, 2024
Ireland Forecast To Gain Budget Surplus From Apple Case
The Irish government's budget surplus is expected to rise to 4.4% of gross domestic product next year, much of that as a result of the European Court of Justice's ruling against U.S. tech giant Apple, according to an economic forecast published Friday.
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November 14, 2024
Defense Attys Urge Justices To Narrow False Statement Law
The National Association of Criminal Defense Lawyers is supporting ex-Burke Warren MacKay & Serritella PC attorney and former Chicago alderman Patrick Thompson's bid to convince the U.S. Supreme Court to overturn his conviction for lying to the Federal Deposit Insurance Corp., arguing that the government's "broad" reading of the relevant statute infringes on constitutional rights.
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November 14, 2024
Albright Moves Apple Foes' Patent Suit To California
Waco's U.S. District Judge Alan Albright has decided to send a patent lawsuit lodged in his court against Apple to the tech giant's home of California, calling the "minimal local interest" provided by local tax breaks "strenuously tied to this case at best."
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November 14, 2024
DC Council Issues Housing Tax Break Emergency Resolution
The District of Columbia Council approved an emergency resolution to enact legislation to implement a competitive process for the provision of tax abatements for housing developments while a recently passed measure to permanently authorize that process faces congressional review before it becomes law.
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November 14, 2024
Gaetz's Slim Legal Resume Raises Concerns Over AG Role
Having never served as a prosecutor and with minimal experience practicing law, Matt Gaetz would have the thinnest legal resume of any attorney general in recent history and would face a steep learning curve, including daunting leadership challenges, if he were to take up the reins of the U.S. Department of Justice, experts say.
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November 14, 2024
Australia Bill Seeks To Expand Rules On Reporting Ownership
Australia's government wants to fight tax avoidance by making owners of equity derivatives disclose significant owners to regulators and investors, expanding access to that information and giving securities regulators new powers to issue freezing orders for noncompliance, the Australian Treasury said Thursday.
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November 14, 2024
Duo Charged With Hacking Tax Firms In Refund Fraud Scheme
Boston federal prosecutors have unsealed charges against two men who allegedly used information hacked and stolen from Massachusetts tax preparation firms to pocket more than $1.3 million from fraudulent tax returns.
Expert Analysis
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Navigating The Last Leg Of The Worker Retention Tax Credit
Whether a business has applied for the pandemic-era employee retention tax credit, received a denial letter or is still considering making a claim before the April 15 deadline, it should examine recent developments significantly affecting the program before planning next steps, say attorneys at Nixon Peabody.
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Opinion
Legal Institutions Must Warn Against Phony Election Suits
With two weeks until the election, bar associations and courts have an urgent responsibility to warn lawyers about the consequences of filing unsubstantiated lawsuits claiming election fraud, says Elise Bean at the Carl Levin Center for Oversight and Democracy.
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How Cos. Can Build A Strong In-House Pro Bono Program
During this year’s pro bono celebration week, companies should consider some key pointers to grow and maintain a vibrant in-house program for attorneys to provide free legal services for the public good, says Mary Benton at Alston & Bird.
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Series
Home Canning Makes Me A Better Lawyer
Making my own pickles and jams requires seeing a process through from start to finish, as does representing clients from the start of a dispute at the Patent Trial and Appeal Board through any appeals to the Federal Circuit, says attorney Kevin McNish.
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Use The Right Kind Of Feedback To Help Gen Z Attorneys
Generation Z associates bring unique perspectives and expectations to the workplace, so it’s imperative that supervising attorneys adapt their feedback approach in order to help young lawyers learn and grow — which is good for law firms, too, says Rachael Bosch at Fringe Professional Development.
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Opinion
Congress Can And Must Enact A Supreme Court Ethics Code
As public confidence in the U.S. Supreme Court dips to historic lows following reports raising conflict of interest concerns, Congress must exercise its constitutional power to enact a mandatory and enforceable code of ethics for the high court, says Muhammad Faridi, president of the New York City Bar Association.
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What To Make Of Dueling Corporate Transparency Act Rulings
Although challenges to the Corporate Transparency Act abound — as highlighted by recent federal court decisions from Alabama and Oregon taking opposite positions on its constitutionality — the act is still law, so companies should comply with their filing requirements or face the potential consequences, say attorneys at Lowenstein Sandler.
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Perspectives
The Pop Culture Docket: Justice Lebovits On Gilbert And Sullivan
Characters in the 19th century comic operas of Gilbert and Sullivan break the rules of good lawyering by shamelessly throwing responsible critical thought to the wind, providing hilarious lessons for lawyers and judges on how to avoid a surfeit of traps and tribulations, say acting New York Supreme Court Justice Gerald Lebovits and law student Tara Scown.
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State Of The States' AI Legal Ethics Landscape
Over the past year, several state bar associations, as well as the American Bar Association, have released guidance on the ethical use of artificial intelligence in legal practice, all of which share overarching themes and some nuanced differences, say Eric Pacifici and Kevin Henderson at SMB Law Group.
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8 Childhood Lessons That Can Help You Be A Better Attorney
A new school year is underway, marking a fitting time for attorneys to reflect on some fundamental life lessons from early childhood that offer a framework for problems that no legal textbook can solve, say Chris Gismondi and Chris Campbell at DLA Piper.
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How The 2025 Tax Policy Debate Will Affect The Energy Sector
Regardless of the outcome of the upcoming U.S. election, 2025 will bring a major tax policy debate that could affect the energy sector more than any other part of the economy — so stakeholders who could be affected should be engaging now to make sure they understand the stakes, say attorneys at Mayer Brown.
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Opinion
This Election, We Need To Talk About Court Process
In recent decades, the U.S. Supreme Court has markedly transformed judicial processes — from summary judgment standards to notice pleadings — which has, in turn, affected individuals’ substantive rights, and we need to consider how the upcoming presidential election may continue this pattern, says Reuben Guttman at Guttman Buschner.
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Series
Playing Diplomacy Makes Us Better Lawyers
Similar to the practice of law, the rules of Diplomacy — a strategic board game set in pre-World War I Europe — are neither concise nor without ambiguity, and weekly gameplay with our colleagues has revealed the game's practical applications to our work as attorneys, say Jason Osborn and Ben Bevilacqua at Winston & Strawn.
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Mental Health First Aid: A Brief Primer For Attorneys
Amid a growing body of research finding that attorneys face higher rates of mental illness than the general population, firms should consider setting up mental health first aid training programs to help lawyers assess mental health challenges in their colleagues and intervene with compassion, say psychologists Shawn Healy and Tracey Meyers.
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Series
Collecting Art Makes Me A Better Lawyer
The therapeutic aspects of appreciating and collecting art improve my legal practice by enhancing my observation skills, empathy, creativity and cultural awareness, says attorney Michael McCready.